Index of industrial production, May 2004

Production of intermediate goods increased by 2.4 per cent, mainly due to growing demand of traditional goods abroad. Non-ferrous metals are still on demand in the export market, and statistics on external trade support the positive figures for pulp, paper and paper products. The production of non-ferrous metals is up 5.2 per cent, along with pulp, paper and paper products, which increased by 3.3 per cent during the same period. Wood and wood products also experienced positive growth, though this is mainly related to demand in the domestic market.

Capital goods

The production of capital goods increased by 1.2 per cent in the same period. Growing demand for electrical and optical equipment in the export market supports the positive growth, whereas the improvement within production of oil platforms is a result of increased investments as well as a higher activity level within oil field development.

Consumer goods

Whereas intermediate and capital goods show an increase in production, capital goods experienced a decline in the last three-month period compared to the previous three-month period. This is mainly due to poor figures within the production of food, beverages and tobacco. Many industries within this particular industrial grouping were affected by strikes at the beginning of May.